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majarm majarm
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7 years ago
The direct labour cost of manufacturing a product is $123.95, direct material cost is $56.20, and overhead is $57.75.

a) What is the percent content of each element of cost in the product?
b) What is the overhead percent rate based on direct labour?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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#1
7 years ago
a)    Labour cost    =    $123.95    52.1%
   Material cost    =    56.20    23.6%
   Overhead    =    57.75    24.3%
   Total    =    $237.90    100.00%
b)    Overhead rate =   = 46.59%
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